First Trust Advisors LP Sells 9,674 Shares of American Electric Power Company Inc (AEP)

First Trust Advisors LP lowered its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 1.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 600,107 shares of the utilities provider’s stock after selling 9,674 shares during the quarter. First Trust Advisors LP’s holdings in American Electric Power were worth $44,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. boosted its stake in shares of American Electric Power by 188.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 5,333 shares of the utilities provider’s stock valued at $375,000 after purchasing an additional 3,486 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of American Electric Power by 3.4% in the 3rd quarter. Raymond James Trust N.A. now owns 25,915 shares of the utilities provider’s stock valued at $1,820,000 after purchasing an additional 861 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of American Electric Power by 6.5% in the 3rd quarter. California Public Employees Retirement System now owns 1,234,413 shares of the utilities provider’s stock valued at $86,705,000 after purchasing an additional 75,260 shares in the last quarter. W. E. Donoghue & Co. LLC acquired a new stake in shares of American Electric Power in the 2nd quarter valued at $2,148,000. Finally, Commonwealth Equity Services Inc boosted its stake in shares of American Electric Power by 1.2% in the 3rd quarter. Commonwealth Equity Services Inc now owns 207,463 shares of the utilities provider’s stock valued at $14,572,000 after purchasing an additional 2,385 shares in the last quarter. Hedge funds and other institutional investors own 70.74% of the company’s stock.

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American Electric Power Company Inc (NYSE AEP) opened at $67.26 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 1.04. American Electric Power Company Inc has a twelve month low of $63.32 and a twelve month high of $78.07. The stock has a market capitalization of $33,080.00, a PE ratio of 17.56, a P/E/G ratio of 3.21 and a beta of 0.18.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.04. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. research analysts predict that American Electric Power Company Inc will post 3.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.69%. American Electric Power’s dividend payout ratio is 64.75%.

AEP has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. SunTrust Banks restated a “buy” rating and issued a $78.00 target price on shares of American Electric Power in a research note on Tuesday, January 9th. Guggenheim downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 2nd. Macquarie upgraded shares of American Electric Power from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $75.00 to $76.00 in a research note on Monday, January 22nd. Finally, Morgan Stanley reduced their target price on shares of American Electric Power from $77.00 to $71.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $74.36.

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American Electric Power Company Profile

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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